Post by pavel on Feb 27, 2016 2:30:33 GMT -6
Ex-Ochsner credit union manager netted more than $1 million in fake loan scheme
A nearly 30-year employee of Ochsner Clinic Federal Credit Union pleaded guilty Friday (Feb. 26) in federal court to charges that she stole more than $1 million from the credit union while serving as the manager there.
A press release from U.S. Attorney Kenneth Polite's office says Jacqueline Ray, 60, of Biloxi, operated a fake loan scheme from 2007 to 2013 to steal the money by creating 149 fictitious loans she either converted to cash or deposited in bank accounts she controlled.
As manager of the credit union, federal prosecutors said, Ray controlled its day-to-day operations. The release says the fake loans were coded in the credit union's processing system in such a way that no documentation existed for any of the loans.
Ray faces up to 10 years in prison, a fine of $250,000 and three years of supervised release, as well as restitution for the stolen money.
Read more: www.nola.com/crime/index.ssf/2016/02/oschner_credit_union_manager_m.html
A nearly 30-year employee of Ochsner Clinic Federal Credit Union pleaded guilty Friday (Feb. 26) in federal court to charges that she stole more than $1 million from the credit union while serving as the manager there.
A press release from U.S. Attorney Kenneth Polite's office says Jacqueline Ray, 60, of Biloxi, operated a fake loan scheme from 2007 to 2013 to steal the money by creating 149 fictitious loans she either converted to cash or deposited in bank accounts she controlled.
As manager of the credit union, federal prosecutors said, Ray controlled its day-to-day operations. The release says the fake loans were coded in the credit union's processing system in such a way that no documentation existed for any of the loans.
Ray faces up to 10 years in prison, a fine of $250,000 and three years of supervised release, as well as restitution for the stolen money.
Read more: www.nola.com/crime/index.ssf/2016/02/oschner_credit_union_manager_m.html